Practicing and living for the benefit of all beings has several effects...

It is a natural expression of Big Mind/Heart, where we see that there is no "other". One being helping another is just the right hand helping the left. The intention of living for the benefits of all beings helps us become more stable in/as Big Mind/Heart.

At the level of our human self, it has two distinct effects.

One is in terms of how we relate to the inner (human self) and outer world (the rest of existence). Every being out there reflects aspects of our own human self, so the way we relate to one is the way we relate to the other. Living with the intention of benefiting others directly translates to how we relate to our own human self. It is the greatest gift we can give ourselves and others.

The other has to do with the seamless nature of the world of form. It is all a seamless fluid whole. For our situation this means that the health and well-being of our larger ecological and social whole is directly connected with our own health and well-being as an individual. We are directly dependent on the health and well being of the larger ecological and social systems for our own health and well being - they are intimately connected. Living for the benefit of others then benefits us as an individual through facilitating the health of our larger life-support system.

And it also helps us live from gradually wider circles of concern, care and compassion - thus moving along the "value meme" line of development.